Latest Market News Today Live Updates July 19, 2024: Why is India’s luxury residential market seeing a significant increase in demand?

• The luxury residential market in India is booming, driven by rising demand for high-end homes due to urbanisation and increasing incomes, with sales of luxury housing units increasing by 27% in the first half of the year.

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• Jefferies has initiated coverage on Muthoot Finance and Manappuram Finance with a ‘Buy’ rating. It has Muthoot Finance share price target of ₹2,220 apiece and Manappuram Finance share price target of ₹270 apiece.

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• Despite widespread reports of technicalissues affecting Microsoft Windows users globally, several Indian brokerage firms reported that their operations remained smooth and unaffected by the Windows crash.

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• IREDA’s stock price rises nearly 7% to ₹275, recovering from a recent dip but remains below its peak. Phillip Capital anticipates strong loan growth amid margin pressures and high private sector exposure.

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• The London Stock Exchange Group is facing a global technical problem hindering news publication on its website. Technological issues caused widespread service disruptions at airlines, banks, and the London Stock Exchange after Microsoft Corp. reported an outage.

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• Small-cap stock below ₹100: Rathi Steel shares are one of the multibagger stocks that the Indian stock market has delivered in 2024

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• Brokerage house Globe Capital has identified five investment ideas with a 12-month perspective, offering potential upsides of up to 51 percent. Let’s take a look.

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• Infosys’ guidance upgrade could help rekindle the lost confidence in the IT sector
• With Infosys’ solid Q1, the valuation gap with TCS is expected to narrow

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• Multibagger stock has delivered over 400% returns to its shareholders in one year

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• Sanstar IPO subscription: Shortly after launch, Sanstar’s IPO was fully subscribed by NIIs and retail investors. By 11:42 IST, subscription status was 1.27 times, with bids for 4,76,38,500 shares against 3,75,90,000 shares on offer.

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• Tunwal E-Motors IPO share allotment finalised on July 19. Investors can check allotment status on Skyline Financial Services website. Refunds for non-allotted shares start on July 22. Listing date set for July 23.

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• Spright Agro, a multibagger success story, saw its stock price surge by 10446% to ₹66.44 from a 52-week low of ₹0.63, delivering substantial returns and maintaining investor confidence amidst market fluctuations.

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• Following shares hit their 52 week high today – Infosys, Mphasis, Tata Consultancy Services, Wipro, Godrej Consumer Products

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• Q1 Results Preview: Paytm share price has declined more than 40% since January end post actions by the RBI. The Paytm Q1 will be declaring results today, Here’s what analysts are expecting from One 97 Communications financial performance during the June Quarter.

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• Sanstar Limited IPO GMP: According to market observers, shares of the company are available at a premium of ₹42 in the grey market today.

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• South Indian Bank reported a 45.30% rise in standalone net profit to ₹294 crore for Q1FY25. The bank’s gross NPAs decreased to 4.50%, while net NPAs fell to 1.44% year-on-year. Retail deposits grew by ₹7,702 crore to ₹99,745 crore.

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• Gold And Silver Prices Today:Gold And Silver Prices Today : 10 gm of 24 carat gold was at Rs.75533.0 in Delhi whereas 1 kg of silver was Rs.91740.0 in Delhi.

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• JSW Infrastructure, after market hours on Thursday, July 18, reported an 8 per cent YoY fall in its Q1FY25 consolidated net profit to ₹296.55 crore against a profit of ₹322.20 crore in the same quarter last year.

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• Stocks in focus: Rajesh Palviya has recommended to buy, hold, and accumulate SBI Life Insurance Company Ltd, Orient Cement Ltd, and Tata Consultancy Services Ltd (TCS) today.

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• Sahaj Solar share price debuted at ₹342, 90% higher than the issue price. Sahaj Solar IPO worth ₹52.56 crore is an offer-for-sale. GMP today is +250, indicating a premium of ₹250 in the grey market.

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• Persistent Systems’ net profit in Q1FY25 was down 2.8% at ₹306.4 crore from ₹315.3 crore in the previous quarter, while L&T Technology Services reported a net profit of ₹313.6 crore in the first quarter of FY25, registering a decline of 8% QOQ.

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• Reliance Q1 results today: The market is expecting a rise in RIL earning YoY but contraction on a sequential basis

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• Infosys share price has seen a healthy gain this year, slightly outperforming the equity benchmark Sensex. Till July 18, Infosys shares had gained about 14 per cent this year against a nearly 13 per cent gain in the Sensex.

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• Stocks to buy today: Experts recommend buying these five shares today — Mphasis, Finolex Industries, M&M, Bharti Airtel, and Chola Finance

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• Wipro Ltd is set to announce its Q1 FY25 earnings with a projected flat sequential revenue growth. Analysts expect a slight increase in revenue and profit after taxes. Wipro share price hit a 52-week high on Thursday, closing at ₹573.20.

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• The trends on Gift Nifty indicate a mildly positive start for the Indian benchmark index. The Gift Nifty was trading around 24,840 level, a premium of nearly 30 points from the Nifty futures’ previous close.

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• Stocks to buy or sell: Sumeet Bagadia has recommended buying these five breakout stocks — Umang Dairies, Alphageo India, Quick Heal, Aditya Birla Money, and DCM

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• Indian stock market: Gift Nifty was trading around 24,840 level, a premium of nearly 30 points from the Nifty futures’ previous close, indicating a mildly positive start for the Indian stock market indices.

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• Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — Snowman Logistics, Ajanta Pharma, and Chambal Fertilisers

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• Infosys ADRs ended 8.38% at $22.50 during the normal trading hours on NYSE. It gained 0.22% in the after market hours trade and closed at $22.30.

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• Abbott India had declared a final dividend of ₹410.00 per equity share for the financial year 2024. Tata Consultancy Services had declared an interim dividend of ₹10.00 per equity share

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• Balrampur Chini Mills, Bandhan Bank, GMR Infra, GNFC, Hindustan Aeronautics, Hindustan Copper, India Cements, Piramal Enterprises, RBL Bank, SAIL, Vedanta are the eleven stocks on the NSE’s F&O ban list for July 19.

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• Indian society, the regulatory framework, and the nation’s overall capability are undergoing a transformation that will elevate many small and mid-sized businesses to higher levels of evolution, said the veteran investor. “While some will falter, many will succeed.”

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